India is set to achieve $650 billion exports target in the current financial year, Commerce and Industry Minister Piyush Goyal said on Monday.

Out of the targeted $650 billion, $400 billion will be merchandise exports while the rest $250 billion will be services exports.

Chairing a review meeting of all major Export Promotion Councils (EPCs), Goyal said the $650 billion exports target for the current financial year is achievable.

He noted that merchandise exports reached $300 billion mark in the first nine months of the current financial year.

“In December alone we touched $37 billion goods exports despite the Omicron fear factor weighing high. This month, in 15 days till January 15, we have reached $16 billion,” he said.

Goyal assured Export Promotion Councils that his Ministry would do whatever it takes in handholding the EPCs and resolving their issues to attain even higher export targets in the next financial year.

The minister urged the EPCs and entrepreneurs to avail of the Government’s initiatives towards Ease of Doing Business such as obtaining clearances through the National Single Window System. He assured the Industry representatives to pursue their demands during the various FTA negotiations.

Speaking of the government’s efforts to improve the ease of living and the ease of doing business, Goyal said that more than 25,000 compliances have been reduced.